Barclays PLC Lowers Holdings in SITE Centers Corp. (NYSE:SITC)

Barclays PLC cut its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 44.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,334 shares of the company's stock after selling 68,762 shares during the period. Barclays PLC owned 0.16% of SITE Centers worth $5,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of SITC. Allspring Global Investments Holdings LLC purchased a new position in shares of SITE Centers during the 2nd quarter worth about $42,000. Systematic Financial Management LP bought a new stake in SITE Centers in the third quarter worth about $203,000. Quarry LP boosted its position in shares of SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company's stock valued at $50,000 after buying an additional 2,857 shares during the period. Quantinno Capital Management LP bought a new position in shares of SITE Centers during the third quarter valued at approximately $244,000. Finally, AlphaMark Advisors LLC purchased a new stake in shares of SITE Centers in the third quarter worth approximately $319,000. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Up 3.0 %

SITC stock traded up $0.45 during trading on Friday, hitting $15.46. 8,393,430 shares of the company's stock traded hands, compared to its average volume of 770,134. The firm has a market capitalization of $810.57 million, a P/E ratio of 1.13 and a beta of 1.61. SITE Centers Corp. has a 1 year low of $14.84 and a 1 year high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $16.03 and a two-hundred day simple moving average of $108.98.

SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. During the same period last year, the business posted $1.32 EPS. The business's revenue was down 37.5% compared to the same quarter last year. Sell-side analysts anticipate that SITE Centers Corp. will post 3.36 EPS for the current year.

Analyst Upgrades and Downgrades

SITC has been the topic of several research analyst reports. Piper Sandler cut their price objective on SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a report on Thursday, September 19th. Compass Point dropped their target price on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 15th. Finally, Truist Financial lifted their price target on shares of SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SITE Centers has a consensus rating of "Hold" and an average target price of $36.04.

Insider Buying and Selling

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the sale, the director now owns 29,082 shares of the company's stock, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David R. Lukes sold 168,895 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares in the company, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their position. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by company insiders.

About SITE Centers

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.